That is about normal, it is amazing how much temperature swing there is.
The thermostats on the pro melt and the Lyman pots as well as the Lee pots have very loose tolerances and are ball park temperatures at best.
The worst one is my little lee 10 lb bottom pour pot. Since there is only 10 lbs of lead and say you use 3 lbs and then decide to add a 1 lb ingot to top it up the temp will go all the way down to 550 deg F from 750 and heat until it gets to 825 before shutting off again.
I made a PID controller for my lead pots and the temperature swing is about 50 deg at worst.
http://www.canadiangunnutz.com/forum/showthread.php?t=480814&highlight=PID
If I set the controller to 800 F for casting hollow points it will come on until it gets to 800 F and the element will turn off but the temp will continue to rise about another 10 deg or so and as soon as it drops again to 795 it turns back on. It might go as low as 775 as it heats back up but a swing of 40-50 deg is a heck of a lot better than 200 deg swing.
As you continue to use the pot the controller will learn the temp swing and try to compensate for it and the temp swing will become less.
When I cast I never put back any sprue cut off lead or top the 20 lb pot up, just pour and when I want a break after 30 min. or so and the pot is nearly empty, then I put more lead in that has been pre-heated on a burner or in another pot. Put the mold on the hot plate, wait about 5 min to come up to temp at most and away I go again.